On Friday, 19 December 2025, the extraordinary shareholders' meetings of the Pampa Group companies approved—with broad support, including the favourable vote of the pension funds—the merger of Sociedad de Inversiones Oro Blanco S.A. with its subsidiary Sociedad de Inversiones Pampa Calichera S.A., and the reverse merger of Potasios de Chile S.A. with its parent company Nitratos de Chile S.A. The transaction involved, among other agreements, obtaining the consent of Pampa Calichera bondholders and the approval at a meeting of the sale on the stock exchange of 10.09% of the shares that Potasios de Chile S.A. holds in Pampa Calichera to Norte Grande S.A.

During the long day of successive shareholders' meetings, the independent evaluation reports prepared by Banchile, Larraín Vial, Link Capital, Econsult and Itaú were reviewed, as well as the reports of independent experts, as required by applicable regulations. At the end of the meetings, Francisca Ponce, vice-president of the Group's companies, addressed the shareholders, emphasising that ‘...this is a very important moment for this company and for all its shareholders, as we embark on a new phase with a clear vision for the future’.

The transaction was led by Catalina Silva Vial, general manager of Grupo Pampa, with legal advice provided by Fernando Barros Vial, Jorge Vigil and Josefina Castro, all of Barros Silva Varela & Vigil Abogados Ltda.